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Is Allegion (ALLE) Stock Outpacing Its Industrial Products Peers This Year?
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The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Allegion is one of 188 individual stocks in the Industrial Products sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegion is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLE's full-year earnings has moved 1.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALLE has returned 11.9% so far this year. At the same time, Industrial Products stocks have gained an average of 9%. This means that Allegion is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Gorman-Rupp (GRC - Free Report) . The stock is up 57% year-to-date.
In Gorman-Rupp's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #169 in the Zacks Industry Rank. Stocks in this group have lost about 15.4% so far this year, so ALLE is performing better this group in terms of year-to-date returns.
In contrast, Gorman-Rupp falls under the Manufacturing - General Industrial industry. Currently, this industry has 43 stocks and is ranked #159. Since the beginning of the year, the industry has moved +0.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and Gorman-Rupp as they attempt to continue their solid performance.
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Is Allegion (ALLE) Stock Outpacing Its Industrial Products Peers This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegion (ALLE - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question.
Allegion is one of 188 individual stocks in the Industrial Products sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegion is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLE's full-year earnings has moved 1.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ALLE has returned 11.9% so far this year. At the same time, Industrial Products stocks have gained an average of 9%. This means that Allegion is performing better than its sector in terms of year-to-date returns.
One other Industrial Products stock that has outperformed the sector so far this year is Gorman-Rupp (GRC - Free Report) . The stock is up 57% year-to-date.
In Gorman-Rupp's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegion belongs to the Security and Safety Services industry, a group that includes 20 individual stocks and currently sits at #169 in the Zacks Industry Rank. Stocks in this group have lost about 15.4% so far this year, so ALLE is performing better this group in terms of year-to-date returns.
In contrast, Gorman-Rupp falls under the Manufacturing - General Industrial industry. Currently, this industry has 43 stocks and is ranked #159. Since the beginning of the year, the industry has moved +0.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Allegion and Gorman-Rupp as they attempt to continue their solid performance.